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Elasticity of Supply Definition and Ways to Calculate it

By Richard Daniels Reading Time: 3 mins
Updated January 31, 2017

Elasticity of Supply Definition and Ways to Calculate it:- Given an increase in the price of a product (or service), the suppliers usually react by increasing the quantity offered. Similarly, in the face of a decrease in the price of a product, the producers of the product usually react by decreasing the quantity offered. In case of […]

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